We examine gender differences in bargaining outcomes in a highly competitive and commonly used market: the taxi market in Lima, Peru. Examining the entire path of negotiation we find that men face higher initial prices and rejection rates. These differentials are consistent with both statistical...

The acquisition and dispersion of information, a critical aspect of economic decisions, can occur through a network of agents (Jackson, 2009). Empirical and theoretical findings suggest that an efficient information dispersion network takes the form of a star: small numbers of agents gather...

This text was the basis for a presentation of the book Knowledge and Coordination: A Liberal Interpretation (Oxford University Press, 2012). The lecture discusses the richness of knowledge, the distinction between concatenate and mutual coordination, and the relation of these to a liberal...

Political campaigns spend millions of dollars each voting cycle on persuading voters, and it is well established that these campaigns do affect voting decisions. What is less understood is what element of campaigning — the content of the message or the delivery method itself — sways voters,...

This paper contrasts two forms of entrepreneurship -- genuine and parasitical -- within a framework of entangled political economy. In 1911, Joseph Schumpeter described entrepreneurship as the locus of leadership within a capitalist economy. At that time state participation in economic activity...

How is rule of law established? We address this question by exploring the causal effect of increases in fiscal capacity on the establishment of well enforced, formal, legal standards in a pre-industrial economy. Between 1550 and 1700 there were over 2,000 witch trials in France. Prosecuting a...

Any competitive process selects among qualities possessed by the competitors, and with different processes selecting for different qualities. With respect to athletic competition, for instance, diving selects for different qualities than swimming. This paper compares electoral and market...

This essay is a keynote address prepared for a conference on "Entangled Political Economy" sponsored by the Wirth Institute. In keeping with the conventions of such an address, I look both backward and forward while placing more emphasis on looking forward. In looking backward, I compare and...

Long-run neutrality of money is an artifact of a particular theoretical framework. We advance an alternative though not contradictory theoretical framework where monetary processes exert lasting real effects. Our framework holds without rejecting the classical equilibrium condition that nominal...

Knowledge has its counterpart in action, and your actions emerge from your normative calls in personal policy-making. On those two steps I propose to bring to the traditional Hayekian knowledge problem a prism of Smithian moral analysis. This approach perhaps sheds new light on the absurdities...